Tullett Prebon completed the acquisition of the hybrid broking and information business of ICAP for £1.1bn.

Tullett Prebon, one of the world's leading interdealer brokers, completed the acquisition of the hybrid broking and information business of ICAP, a financial services firm, for £1.1bn. "Today we announce a compelling opportunity to bring together two world class, client focused broking businesses, both with a proud heritage. By coming together they will benefit from improved scale, allowing for a significantly improved product suite and service for customers. Financial regulatory reform means that the global financial markets have profoundly changed and this Transaction means both companies will be better suited to meet the market's changing needs and better serve our customers. This is an historic moment for both companies and the voice and hybrid broking industry. I have every confidence that this new structure will emerge as a great platform for success," Michael Spencer, ICAP CEO.